cab you please add an explination Katelyn is the Purchasing Manager at Polo...
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cab you please add an explination
Katelyn is the Purchasing Manager at Polo Industries, Inc. She asked you to help her determine what the Ending Balance for Inventory and the cost of Goods Sold total would be using the three (3) valuation methods: (a) LIFO (last in first out), (b) FIFO (first in first out), and Weighted Average. The purchase information is below: Items 107 Inventory Purchase Saturday, June 6, 2020 Sunday, June 14, 2020 Thursday, June 18, 2020 Tuesday, June 30, 2020 158 Cost per Item $ 85.10 $ 79.50 $ 95.00 $ 92.40 87 93 445 Katelyn told you that 300 items were sold and 145 remained in inventory. (a) Calculate the valuations using LIFO (2 answers required). Round to the nearest 2 decimal places
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